Officially? No

Unofficially? Look how many "charities" pay their founders/presidents 6-figure salaries.

But then, the founders / presidents would need to pay income-tax on their salaries. The only benefit in this arrangement is that sops given to individuals might be higher than that to companies.

It stops it being taxed twice - once as corporate income and once as personal income.

What are you talking about? Six-figure salaries would never be taxed as corporate income in the first place. Compensation up to a million is a straight-up deduction, no questions asked. You don't need to be a tax-exempt entity to avoid corporate income tax on them.

Look at how many companies pay their founders/presidents 8-figure salaries. What's the problem?